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Getting your mortgage is just one aspect of a real estate transaction. St Augustine Florida Homes & Real Estate is seasoned at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.
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Do you want to finance a home in Jacksonville?
When purchasing a home, applying for financing is very troublesome for many people, but it doesn't have to be.
Having connections with a lot of lenders in Jacksonville has helped me realize a lot of the things that can make the loan application process very easy.
1 – Organize a list of questions regarding your loan program
If you find that you do not completely understand the advantages and disadvantages of all the different financing options, be sure to bring a list of questions with you.
I or one of my lenders will be able to help you understand the advantages and disadvantages of both programs, because it can be a challenge to understand the differences between both fixed and adjustable rate mortgages.
2 – Decide when you want to lock
By locking in the interest rate, the mortgage lender is guaranteeing the interest rates for the loan – often at the time the loan application is sent in.
By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Buyers who prefer to float presume interest rates will drop in the near future. Click here to see the outlook for the next 90 days of interest rates.
3 – Decide if you want to pay additional points to lower your interest rate
Typically you can opt to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing.
If you're not sure if purchasing points is the best option for you, click here to use our points calculator.
4 – Compile your paperwork
Obtaining a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to preview normal questions you'll have to answer on a loan app.
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Today's Rates:
| 30-yr Fixed | 3.87% | 4% | | 15-yr Fixed | 3.14% | 3.31% | | 1-yr Adj | 2.76% | 3.42% |
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